Simply put, Workchain is an autonomous, two-way incentive mechanism for blockchain that can power an endless variety of intangible economies.

How does it compare to blockchain?

Blockchain allows you to transfer value one-to-one. Rewards go to network providers.

Workchain allows you to produce value and transfer it one-to-many. Rewards are distributed to everyone according to their contribution (for holders) and validation (for workers). Runs on top of blockchain.

I suppose I should make that more clear on the site. Teams will be competing for the rewards in the pay period. Contrast this with ICOs, for example, where teams 'earn' money first, then produce value.

In the Workchain model, teams will produce value first, then get rewarded based on what percentage of validations (votes from holders) they get. It's a new kind of open-source model where teams can get rewarded for what they produce.

The default team is my own. My developers are not involved with crypto so much, which helps minimize internal scams and malicious behaviour that is so common in crypto. So my team will be competing with other devs, teams, and others who'd like to help out on the project.

Note that Workchain is an open-source project that is designed to give all contributors an opportunity to get paid for their work. As such, there will be multiple different teams working to improve the Workchain concept and its ecosystem, not just one. Each will be adding value for holders and users, competing for a slice of the reward pie every pay period and submitting tokens for validation.

In the hyper-competitive Workchain model, workers add value first and then seek validations from holders based on the value that they have added. The more validations a worker receives compared with other workers, the bigger their share of the worker rewards.